Brook completes CETR acquisition for $17 million
On October 13, 2011, it was announced that Bruker Corporation completed the acquisition of Center for Tribology (CETR) last Thursday. The transaction involved an initial purchase price of $13 million and a potential additional payment exceeding $4 million, which mainly depends on CETR's growth and profitability in 2012 and 2013 after joining Bruker.
CETR is a privately held company located in Campbell, Silicon Valley, USA. It is estimated that the company's revenue will reach $10 million in 2011, with EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) exceeding $2 million.
Upon completion of the acquisition, CETR joined Bruker’s Nano Surface Instruments division, which includes AFM (Atomic Force Microscopy) and SOM (Stylus and Optical Metrology) businesses. Dr. Norm Gitis, founder and CEO of CETR, has also joined Bruker as Vice President and General Manager of the Tribology and Mechanical Testing (TMT) business.
Bruker Corporation's President and CEO, Frank Laukien, said: "We are very pleased to have CETR join Bruker. CETR brings industry-leading expertise and product systems in tribology, mechanical testing, and nanoindentation. CETR's addition ensures Bruker's commitment to providing the most innovative instruments and services to our customers. We warmly welcome Dr. Gitis and his team."
Dr. Mark R. Munch, President of Bruker Nano Surface Instruments, stated: "Our current customers are highly interested in the relationship between material structure and mechanical properties. CETR shares nearly 50% overlap in its customer base with Bruker. Therefore, we are delighted to collaborate with CETR to offer excellent products. I am confident that the synergistic combination of CETR's capabilities with Bruker's core competencies in atomic force microscopy, optical instrumentation, and more will increase our penetration in relevant markets and continuously enhance the research and achievements of our global customers."
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[Website for reference: www.testchamber.com.tw]